Current induced by permanent magnet moving along toroid coil

(It's not really shown in the pictures, but please assume that the coils are included in a closed circuit in both configurations. Maybe they could serve as a tension source in their respective circuit ?) When a permanent magnet moving on a circular path passes close to a coil periodically (see figure above), it induces an AC in the circuit (I think, correct me if I'm wrong). I was wondering : if a permanent magnet moves in a circular path, but this time along the side of a toroid, what happens ? Based on my intuition alone, i'd say that it induces a (relatively) direct current. Is it correct ? If so, can we put that into equations ? I'm a bit shaky with Faraday's law, so I don't really know how to do it.

This is not a homework question. As such, I have not included any factors (Speed of magnet, radius, number of loops...) because we can just make them up as we go. If we need to know a factor, then let's just add it in.

Also, please feel free to suggest variations of the problem if they seem interesting, like changing the path of the magnet or whatever.

By Faraday's law: $$EMF = -\frac{\Delta \Phi}{\Delta t}$$. As flux through the coil changes over time, EMF is generated. As the magnet retreats, the flux decreases, and the reverse EMF is generated. Net result: alternating current.